Study its shareholders structure, easy to push up with just38mil, top30 holding over 80%, and book is beautiful. A stock to hold for longterm. If comp sell to dsonic earlier given as special div, shld be near rm0.10
Formosa Prosonic Industries (FOR MK) Technical BUY with +20.2% potential return Last price : RM0.965 Target Price : RM1.09, RM1.14 Support : RM0.910 Stop-loss: RM0.900 BUY with a target price of RM1.14 with stop loss placed below RM0.900. FOR’s share price retraced from the recent high of RM1.01 before stabilising at the RM0.88-0.90 level in the last three weeks. However, FOR looks set to resume its previous uptrend given yesterday’s strong gain along with the higher trading volume indicating fresh buying interest. As the share price closed above both the 10-day and 21-day SMA lines yesterday, we expect an upward continuation hereafter. Thus, we peg our medium-term upside target at the 1.61x Fibonacci extension level of RM1.14.
Formosa Prosonic Industries (FOR MK) Technical BUY with +15.4% potential return Last price : RM1.04 Target Price : RM1.09, RM1.20 Support : RM0.985 Stop-loss: RM0.980 BUY with a target price of RM1.20 with stoploss below RM0.980. FOR’s share price has been consistently climbing along the steeper trendline for the past 5 months as the FOR has surged past the strong resistance of RM0.985 (now support) on 18 Jun 14. As the share price has made a new high at RM1.04, the profittaking activity has dragged FOR to immediate support of RM0.985 before last Friday’s breakout placed the share price in the new territory. The renewed buying interest as shown by higher trading volume should confirm the creation of a new up-leg. Additionally, positive readings in both RSI and MACD should translate to an upward continuation from here onwards. We peg our upside target at the significant high of RM1.20 over the medium-term period. Timeframe: 2-weeks to 2-months
Just to recap, they have sold off non core assets to dsonic earlier, now loaded in cash. Focusing back on their core biz and new plan from taiwan shareholders help. Be patient. Anyway, Taiwan major shareholders famous with generous div payment.
Really like their reliable dividend payouts. I am surprised investors seem to ignore this counter considering low interest rate environment. Unfortunately no sexy story like lush govt contracts or oil and gas or najib's son. hahaha
with the fat dividend received from Acostech in May 2014 and with the proceeds from sale of shares in April 2014 I think something sweet is coming soon.
RM0.01 slowly but daily... reaching our near term target RM1.20 soon even without much news! Remember some windfall after selling company to Dsonic! And Taiwanese generous with dividends, now waiting it to announce new plans and special div only.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Steven Yong
1,251 posts
Posted by Steven Yong > 2014-04-23 20:44 | Report Abuse
Accumulate some at 0.935, think good to keep some for div